Do your homework before you spend on Black Friday to ensure the discounts are not fake - Shoppers are cautioned not to splurge on goods they don’t need, especially in this inflationary environment
falls on 25 November, just in time for payday. But is the spending event all it is cracked up to be?
Laurian Venter, a director at online marketplace OneDayOnly.co.za, said that globally, Black Friday is all about discounts, some as high as 99%, whereas in South Africa consumers are accustomed to discounts of 20% to 30%. Casparus Treurnicht, a portfolio manager at Gryphon Asset Management, said Black Friday simply entices consumers to spend more than they should on goods that they don’t need or cannot afford.
Ethel Nyembe, the head of consumer high net worth at Standard Bank, said the consumer will need to keep a discerning eye on deals and be discount savvy. This means knowing the original price of an item will help them decide whether they are truly getting a bargain.
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